Tax avoidance schemes involve bending the rules of the tax system to try and gain a tax advantage.
For the first time this year, tax avoidance schemes have been ‘named and shamed’ by HMRC as users are warned they could face large tax bills.
If you enter into a tax avoidance scheme HMRC will investigate your current and future tax affairs and may also take legal action. You may also end up having to pay much more than the tax you tried to avoid, including penalties.
For further information regarding tax avoidance schemes, please click on the link below:
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